Explain What Is Meant by the Term ‘Statutory Interpretation’ and to What Extent Does This Compliment or Undermine the Role of the Parliament?

Clarify what is implied by the term ‘statutory interpretation’ and how much does this commendation or sabotage the job of the parliament? Legal translation alludes to a procedure utilized by the courts when it takes a gander at a bit of resolution to decipher what its definition is. A resolution is a bill otherwise called a law which was passed by the governing body (Parliament) that forces leads on individuals. Anyway these ‘statutes’ might be not entirely clear and are sporadically are enigmas with ambiguities. So legal understanding is the procedure that centers around settling these ambiguities and choosing how a specific bill or law will apply in a specific case. A few resolutions have an exceptionally clear and straight forward significance to them and therefor deciphering them extraordinarily simple, yet by and large there can be ambiguities and unclearness in the wording of the rule that the adjudicators must attempt to determine for the sole reason for halting and ridiculousness happening. Courts can just decipher the law they don't scrutinize the starting points or the explanation. There are various guidelines with regards to legal translation, the first and generally significant of these principles is the standard that administers and manages the resolutions plain language, the standard is basically the rule implies what it says, For instance if the rule alludes to vehicles it would be deciphered as vehicles not planes or submarines. This is known as the Literal standard and it takes a gander at the resolution in its characteristic and conventional significance in its unique circumstance. The bit of leeway and impediments to utilizing this standard is that it energizes accuracy in drafting laws, well except if the Legislature had any motivation to be purposely thoughtless. t additionally is intended to bring a specific feeling of conviction, anyway there is no sureness with regards to something like peculiarity so can that truly be the situation? , It is close to futile when an appointed authority is attempting to decipher a demonstration where wide terms have intentionally been utilized anyway the reality remains that the capacity to draft an ideal bill is unthinkable. Furthermore, the case despite everything remains that it gives the law making power or if nothing else the forces to â€Å"bend† laws to makes a decision about something which is infringing upon the possibility of Parliamentary incomparability. An Example of the Literal guideline is; â€Å"Whitely v, Chappell (1869). The respondent had casted a ballot for the sake of an individual who had passed on, yet was seen not as liable of the offense of personating ‘any individual qualified for vote’: a dead individual isn't qualified for vote. † (http://lawful catalog. net/english-law/understanding exacting principle. htm) Another standard that administers legal understanding is the wickedness rule, and as indicated by the law commission it was viewed as the most agreeable of the three principles, Its essential reason for existing is to permit the courts to investigate and stop the insidiousness that the law was passed to forestall, a case of this standard being placed into impact Is; â€Å"Smith v. Hughes 1960, a whore requested from inside a structure to the road. A private structure was held to be a â€Å"street or open place† for the motivations behind the Act to evade the devilishness of harlotry. †(http://e-lawresources. co. uk/Adler-v-George. php) However not at all like the exacting principle it doesn’t detract from the possibility of parliamentary incomparability a lot as they despite everything apply the law similarly that parliament expected it to be. The last and third principle is the Golden standard, this is fundamentally the standard which becomes an integral factor if the accompanying of the Literal guideline would make a craziness, so the courts are permitted to decipher and apply an auxiliary significance to it. A great case model is the situation of Adler v George (1964) that expressed Under the Official Secrets Act 1920 it was an offense to block an individual from the military ‘in the region' of a disallowed royal residence. The respondent was entirely the precluded place, instead of ‘in the region' of it, at the hour of check. ( http://e-lawresources. co. uk/Adler-v-George. hp) The courts anyway realized that following the exacting translation of this law would prompt a ludicrousness and they utilized the brilliant standard to decide it was â€Å"absurd† to thing a law would apply close to something and not inside it. Legal understanding is a dubious assignment, so judges can utilize various things to help them in there errands these are called â€Å"aids† and they come in two distinct structures ‘Intrinsic aids’ these are something that is found inside the demonstration of parliament itself that they can use to attempt to decipher and apply the demonstration with and ‘extrinsic aids’ these are things found outside of the demonstration of parliament. An instances of an Intrinsic guides is the short title of the bill. Anyway there are unquestionably progressively Extrinsic guides for instance; the courts may call upon Dictionaries to discover the meaning of words to help in careful translation, Especially if managing the Literal principle. They may likewise allude to past Acts and how they were deciphered before if another demonstration of parliament is supplanting a past one. They likewise utilize the law appointed reports to perceive any reason why the law was made, something that would come in convenient if attempting to apply the Mischief rule. They may likewise allude to the Hansard; this is altered verbatim report of the considerable number of procedures in both of the places of parliament. Significant things to think about that will be that judges may just gander at explanations made by a pastor or another advertiser of the bill. The entire thought of these 3 guidelines makes the idea of Parliamentary matchless quality somewhat weak, as the capacity to decipher and twist the law is totally at the Judge’s prudence. It corrupts the Idea Significantly.

International Integration Free Essays

string(172) and Dutch were completely associated with universal mix as they guaranteed abroad domains as settlements and spurred worldwide trade(Iadicola, 2008). Universal Integration Introduction The progressing procedure of global mix is regularly alluded to as ‘globalization’. An association called the ‘United Nations’ (UN) is explicitly significant as it is adding to this procedure by making an opportunities for its individuals to talk about issues, activities and substantially more. Practically all states are its individuals and through that a significant situation is made for global reconciliation. We will compose a custom article test on Universal Integration or on the other hand any comparable theme just for you Request Now The inquiry this article attempts to answer is; ‘Is global combination a bit of leeway or inconvenience for world harmony? ‘. An answer is attempted to be found through the investigation of the procedure of globalization, its connect to the UN and the present clash in Syria. The contextual investigation of the present clash in Syria investigates how the UN functions in specific circumstances and the issues it faces for following up on a worldwide level. It will be utilized for instance to discover a response to the primary inquiry. As the UN is very nearly an all inclusive association it is the territory for interminable conversation between its individuals who all have certain interests. In any case, its just character may not be really legitimate as specific on-screen characters have more force than others, impacting the procedure of equivalent info. Universal reconciliation and its highlights are continually creating and as will be depicted the procedure has numerous outcomes, positive and negative ones. Globalization Modern culture anno 2012 could be portrayed as an interconnected existence where data is shared at a quick pace through different stations as web, TV and media communications. Humanity has developed an oddity in everything that occurs around him. These days it is conceivable to procure the most recent news by a solitary mouse snap and we are eager to share even the smallest happenings through our own spaces, for example, Facebook and Twitter. A worldwide system of insight emerged with the advancement of current correspondence assets, one reason for the procedure of globalization (Jeffery, 2002). The general comprehension of the procedure of globalization is the expanding universal coordination of the world brought about by mass exchange and social trade (Fincle Govale, 2012). In spite of the fact that suppositions additionally appear to vary about the importance of the idea it is commonly acknowledged that it is worried about the developing degree, speed and force of interconnectedness around the world (Goldstein Pevehouse, 2011). Reasons given for globalization are; opportunity of exchange, upgrades of transportation, work wages and abilities and improvement of correspondence assets (Fincle Govale, 2012). Globalization has brought about expanded universal exchange, transnational companies, quicker and better openness of data, more liberated development of people and a more noteworthy reliance on the world economy. Adversaries of globalization see an extending hole between the rich and poor people, as well off states channel human and common assets from less created nations for out of line remunerations (Jeffery, 2002). A few markers for globalization have been created in the course of the most recent decades, important are their factors and information they use. One of the principal pointers planned and one that is utilized as reference for some, others is the Kearney/FP list which is bolstered by a database (Lombaerde Iapadre, 2007). It considers; â€Å"[†¦ ] the financial joining on the planet economy, the degree of universal political commitment, the internationalization of individual contacts of residents and the utilization of web innovation. † (Lombaerde Iapadre, 2007, p. 3). The Modified Globalization Index, by Martens and Zywietz, incorporates these four factors and includes another two;†[†¦ ] the contribution of a country’s military-mechanical complex with the remainder of the world, and the power of globalization in the environmental space. † (Lombaerde Iapadre, 2007,p. 4) Their meaning of globalization is; â€Å"[†¦ ]the strengthening of cross-national social, financial, political, social and innovative cooperations that lead to the foundation of transnational structures and the worldwide coordination of social, monetary, ecological, olitical and social procedures on worldwide, supranational, national, provincial and nearby levels. † (Lombaerde Iapadre, 2007,p. 4). Another is the Dreher globalization record that expands on the Kearney/FP file and stresses on data streams and worldwide combination through financial strategy advancement. Another depiction of globalization is found in crafted by Gibbens, who appears t o concur that globalization is a procedure of social, political and efficient incorporation of country states all through the globe (Giddens, 2000). Ritzer(2004) presents, really likes, the utilization of the term ‘grobalization’, since he centers around the imperialistic character of countries and transnational enterprises. He pinpoints the will to coordinate globally by the individuals who have the assets required. Global reconciliation is an overall procedure with results. The procedure is guided by powers and notice that these powers are not separated similarly over the world but instead are coordinated from an inside (Iadicola, 2008). These days the United States of America is in this focal point of a supposed worldwide realm. It has the most effect on global associations and the assurance of incorporation on political, efficient and cultural levels among country states (Iadicola, 2008). Iadicola(2008)researched this force place domain thought. An entry worried about globalization states that;†[†¦ ] globalization is to some extent a result of the intensity of realms because of success and exchange and migration making examples of social dispersion. â€Å"(Iadicola, 2008, p. 2-3). Globalization began quite a while in the past and it heightened during the pilgrim period. However, these days it appears globalization has sped up and reach as could be clarified by the serious development correspondence implies, with web as key element. The realm has assumed an adequate job in the circulation of capital streams, exchange and financial association. Coordinating an ever increasing number of states into the world economy doesn't imply that riches is similarly partitioned among them, as Iadicola(2008) describes;†[†¦ ] the structure of worldwide progressions of salary, ventures, and sovereignty installments today doesn't relate to any thought of a reliant world that is commonly profiting by these streams. Conversely, solitary focus and unidirectional streams towards supreme based partnerships rules the procedure of globalization[†¦ ]. â€Å"(Iadicola, 2008). Realms have decided the powers of globalization for a long time, The British Empire is a prime case of how exchange was utilized to interface numerous landmasses. Yet in addition the Greek, Ottoman and the European realms as the Portuguese, Spanish and Dutch were totally engaged with global reconciliation as they asserted abroad regions as provinces and roused universal trade(Iadicola, 2008). You read Global Integration in class Paper models Maier(2005)sees the domain as a significant, driving entertainer in universal combination. The powers expected to impact globalization are found at this entertainer. Realms are sorted out by and for the individuals who primarily control assets and creation and not by the individuals who work for it, as the domain has a class ideology(Maier, 2005). The domain has four basic highlights that identify with its impact or entrance of those commanded by it. These highlights can be viewed as globalization powers, used to acquire riches, influence and expanded worldwide societies. It utilizes; military-, financial , social and political entrance and mix. The USA has utilized these methods with expanding force throughout the most recent decades to grow their advantage (Iadicola, 2008). Globalization can be viewed as worldwide incorporation at different levels. Its escalation in the course of the most recent decades can be ascribed to new and quicker methods of correspondence, expanded worldwide exchange and the need of the realm for growing its capacity. However, there is a whole other world to depict that will assist with finding its restrictions, by and large turns of events and impact. Significant for the expanding global coordination is worldwide law. Worldwide law can be seen an arrangement of standards, rules, ideas and standards for overseeing and overseeing relations among states, intergovernmental organizations(IGO), nongovernmental organizations(NGO), people and a few different on-screen characters in globalization. Universal law’s principle wellsprings of creation are custom and treaties(conventions). Standard global law can be viewed as law that emerges from certain, usually polished activities by states. A model is the resistance ambassadors appreciate in remote nations. Custom will more often than not be formalized into an arrangement, the most significant wellspring of universal law (Scott, 2010). These laws are made to rise desires, make strength among states and decide how states ought to associate on universal level just as national. Despite the fact that states appreciate power, they are limited when certain understandings are made among states and adjustment of local arrangement may be required and is once in a while earnest (Shaw, 2008). Global law is made by states, IGO’s and NGO’s and it is made for them. The production of worldwide law is a result of global joining where states cooperate to define limits, make governs and figure out what is significant. Throug

Blog Archive Haas School of Business at the University of California, Berkeley, Essay Analysis, 20192020

Blog Archive Haas School of Business at the University of California, Berkeley, Essay Analysis, 2019â€"2020 Applicants to the Haas School of Business at the University of California, Berkeley, this season will be responding to two totally new required essay questions. We were a little sad to see that the school’s unique and challenging six-word story prompt had been removed, but we imagine many candidates are not. Instead, Berkeley Haas wants applicants to dig deep on a personal level and discuss something about which they are passionate. For their second essay, candidates must explain the school’s role in their anticipated development as a leader. For its optional essays, the admissions committee has maintained its multipart questionnaire prompt (which is much less complicated than it may seem at first glance) and an open-ended prompt that gives applicants the opportunity to address any unclear or problem areas in their profile. These four essays together should allow you to present a well-rounded impression of yourself to the school, complementing the information presented in your re sume, recommendations, and basic stats with insight into who you are as an individual and who you hope to be as a future business leader. Our full essay analysis for Berkeley Haas follows Required Essay #1: What makes you feel alive when you are doing it, and why? (300 words maximum) Perhaps you are familiar with the psychological concept of “flow,” which is a mental state people enter when they are completely immersed in and focused on something they enjoy and are enthusiastic aboutâ€"it is also described as being “in the zone.” With this question, Berkeley Haas is basically asking you to discuss what puts you in the zone. If you are truly excited about somethingâ€"and, we would assume, therefore engage in it on a regular basisâ€"writing about it should not prove too challenging. Like all other application questions, this one has no “right” answer, so do not try to guess what you think the school wants to hear. Authenticity is key to your success here. Note that the prompt includes the words “when you are doing it,” so although you may feel strongly about certain causes or values, such as animal rights or environmental matters, for this essay, you will need to discuss an activity rather than an ideology.     The school does not stipulate that your topic needs to come from a specific area of your life (e.g., professional life, community service, personal life). We appreciate that you are likely passionate about your career, but this is not automatically your best choice for a topic here, especially given that the school’s second required essay offers a better opportunity to discuss your professional side. What Berkeley Haas wants to learn from this essay is what gets your heart pumping and mind racing. Enthusiasm and intensity can be very inspiring and energizing and can lead to big ideas and actions. Sharing what incites such feelings in you gives the admissions committee an idea of where you might someday make an impression on the world, how you might leave your markâ€"especially once you are equipped with all you will gain and learn during your MBA experience. That said, do not worry if the thing you feel so fervently about might initially seem commonplace to someone else. For example, perhaps you feel passionate about basketball. Because this is an interest anyone could share and enjoy, you might have concerns that it could sound pedestrian or unremarkableâ€"and for many, this is a completely unremarkable pastime and one they should not write about. If, however, you can show that you have engaged with basketball in a way that takes the activity well beyond being a commonplace hobby and that it is something you connect with on a deep level and in various waysâ€"perhaps having played for many years, you now coach youth teams from underprivileged neighborhoods in your communityâ€"then it most definitely becomes an acceptable discussion topic. In such a case, basketball could be used to reveal intensity, dedication, commitment to yourself and others, growth, longevity, and/or resilience. Of course, we are offering basketball here just for ill ustration purposes. We imagine you likely feel the flow when engaging in a completely different activity or even engaging in disparate activities that are unified by a single behavior, such as when you are creating something, or perhaps motivating others. The options are very much endless. Once you have identified the passion you wish to discuss, avoid simply telling the admissions committee about it and instead illustrate how it manifests in your life. For example, rather than starting your essay by stating, “I have been watching and playing basketball since I was a child,” you need to create a more vivid impression of your dedication and involvement, such as “From playing with my brothers after school to varsity ball in college to now coaching a youth league in my community, I can hardly remember a time when basketball wasn’t an integral part of my life.” Or consider a more narrative approach, such as, “Dripping with sweat, I thrust my right arm up and knocked the ball away, just as the buzzer sounded.” Once you have set the scene and presented the object of your fervor, you must then explain why you connect with it so strongly or so wellâ€"perhaps it gives you a sense of peace or purpose, or it makes you feel connected with others in a meaningful way, or it allows you to challenge yourself mentally or physically. A successful essay response will not only paint a clear picture of your passion but also highlight the elements of your personality that make it significant to you. Required Essay #2: At Berkeley Haas, we are redefining leadership. We value different opinions and perspectives, recognizing that we always have more to learn about others’ lived experiences and histories. We encourage speaking up and listening, and courageously use our power to address barriers and drive change for positive impact. Tell us how a Berkeley Haas MBA would enhance your leadership profile, incorporating specific examples. (300 words max) Although the school does not explicitly ask that you discuss leadership within the context of your career for this essay, we believe that focusing on your professional experience is best here. After all, you are not applying to business school to get better at your extracurricular pursuits! The intro to this prompt implies that Berkeley Haas seeks individuals who take an inclusive, if not collaborative, approach to leadership, so keep this in mind as you craft your response. Also, note the verb “enhance,” which carries with it the idea that you are building on something that already exists, improving it and taking it to a new level. You will therefore need to provide some basic context about your past leadership experience and current style. But with only 300 words for the entire essay, you will need to keep this information succinct and direct. This is certainly not the place to try to impress the admissions committee with a detailed story about a past leadership success. Instea d, strive to convey the leadership abilities and mind-set you have developed thus far, to set the stage for your discussion of the elements you hope to acquire in the MBA program and how the school can help you do so. The admissions committee very directly requests “specific examples” to illustrate why Berkeley Haas is the right place for you to advance your leadership experience and knowledge, so you will need to do some focused research on the program to identify the resources, events, and other offerings that align with your needs and interests in this area. In essence, this is a very targeted “why our school?” query, so we encourage you to download a free copy of the mbaMission Personal Statement Guide, which we created to help applicants write this style of essay for any school. It explains ways of approaching this subject effectively and offers several sample essays as guides. Click here to access your complimentary copy.   Optional Information #1: We invite you to help us better understand the context of your opportunities and achievements. What is the highest level of education completed by your parent(s) or guardian(s)?   Did not complete high school High school diploma or equivalency (GED) Associate’s degree (junior college) or vocational degree/license Bachelor’s degree (BA, BS) Master’s degree (MA, MS) Doctorate or professional degree (MD, JD, DDS) What is the most recent occupation of your parent(s) or guardian(s)? Unemployed Homemaker Laborer Skilled worker Professional If you were raised in one of the following household types, please indicate. Raised by a single parent Raised by an extended family member (grandparent, aunt/uncle, niece/nephew, cousin) Raised in a multi-generational home Raised in foster care What was the primary language spoken in your childhood home? If you have you ever been responsible for providing significant and continuing financial or supervisory support for someone else, please indicate. Child Spouse Sibling Parent Extended family member (grandparent, aunt/uncle, niece/nephew, cousin) Other Please elaborate on any of your above responses. Alternatively, you may use this opportunity to expand on other hardships or unusual life circumstances that may help us understand the context of your opportunities, achievements, and impact. (300 words maximum) Optional Information #2: This section should only be used to convey relevant information not addressed elsewhere in your application. This may include explanation of employment gaps, academic aberrations, supplemental coursework, etc. You are encouraged to use bullet points where appropriate. Although the school’s first optional essay prompt is somewhat elaborate, it is not necessarily all that complicated, and we imagine it will offer certain applicants an easy way of highlighting particular elements of their background without having to try to fit them into a different essay. The school clearly wants direct information and basic explanation(s) from this option, so simply answer the questions and succinctly provide any necessary clarifications using the allocated word count. The second optional essay prompt asks applicants to focus specifically on information they deem most “relevant,” and the lack of a word limit means candidates can fully explain whatever they feel the admissions committee truly must know to be able to evaluate them fully and fairly. This is not, however, a blank-slate invitation to dump every bit of remaining information about yourself that you feel the school is lacking. And however difficult,  avoid the temptation  to simply reuse a strong ess ay you wrote for another program here or to offer a few anecdotes you were unable to incorporate into your other Berkeley Haas essays. Be judicious in your use of this opportunity, and submit an optional essay only if you truly believe a key element of your story or profile is needed for the school to have a complete and accurate understanding of you as a candidate. Consider downloading your free copy of our  mbaMission Optional Essays Guide, in which we offer detailed advice on when and how to take advantage of the optional essay (including multiple sample essays) to help you mitigate any problem areas in your profile.   The Next Stepâ€"Mastering Your Berkeley Haas Interview:  Many MBA candidates find admissions interviews stressful and intimidating, but mastering this important element of the application process is definitely possibleâ€"the key is informed preparation. And to help you develop this high level of preparation, we offer our  free Interview Primers! Download your free copy of the  Berkeley Haas School of Business Interview Primer  today. 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The Growth Of The Malaysian Bond Market Finance Essay - Free Essay Example

Sample details Pages: 6 Words: 1787 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Malaysia bond market is one of the fastest growing bond markets in Asia. The bond market reached a whopping amount of RM730.0 billion as at September 2010 compared with RM634.8 billion as at end year December 2009. Both public and private sector contributing a balance mix amount of 53% and 47% each. Ringgit was the best performing Asian currency against the US dollar. Thus this will cause the increase of the demand on Ringgit denominated bond. The bond is rated base on its strong performance and the ringgit is expected to further appreciate on speculation of Yuan appreciation. The ringgit has gained 7.0% against the USD as compared to other Asian currencies. With the unpredictable volatility of stock market; investors have begun searching for an alternative investment. Malaysian investors should look forward in holding ringgit denominated bonds while avoiding global bonds. Currency Year to date (YTD) basis Currencies Performance VS USD. Ringgit 7.0% India Rupee 4.6% Korean Won 4.6% Indonesia Rupiah 4.1% Thai Baht 3.2% Singapore Dollar 2.4% Taiwan Dollar 2.1% China Yuan 0.0% Source: Bloomberg, iFAST Compilations, date as at 26Apr 2010 Malaysia posted 4.5% GDP growth as at year 2009 was backed by the improvement of external and domestic demand with support of better economic fundamental. The global recovery since the 2007 Financial Crisis has yet to see double digits of year on year growth recorded in exports and manufacturing sales growth. The New Economic Model (NEM) is a plan to transform Malaysia into a high income economy country has somehow influence the recent surge in Ringgit. Malaysian government plans to cut its budget deficit from 7.9% of GDP in 2009 to 5.4% of GDP in 2010 by reducing the supply of bonds. On the other hand, as a result of some of the developed nation such as Portugal, Italy, Ireland, Greece, Spain, UK, US and Japan see their debt to GDP ratio soar. These have cause an increase in demand for Ringgit denominated bonds as it perceived their sovereign debt risk would continue to rise. Investors look at developing nations debts as an alternative source to provide them a safer alternative investment. The rise of bond yields will cause the fall in bond prices when the economy improves because investors will withdraw money out of safe or government backed bonds and opt for riskier investments. Investors will search for better opportunities in the stock market to gain potential bigger returns. Generally a recovery of a countrys economy or a good economy expectation will be the typical reason for bond yields to go up. However, the perceived of higher risk default on a country could also be a reason of the rise on bond yields. Example the recent Greek bond yields sore up to 7% recently due to its meltdown on fiscal deficit. When bonds are issued the issuer will compensate investor with periodic interest payments for the use of money. Bo nds carry coupon rates that are close or similar to the prevailing market interest rate. There is an inverse relationship between the interest rate and bond prices. The reason that causes the inverse relationship between interest rate and bond price is due to the opportunity cost of investors investment alternative. Investors will compare the returns on their current investment to what they can get in other market. Market interest rates changes will affect the attractiveness and preference of investors on bond market. For an example, suppose XYZ Company will to issue a bond carrying a coupon rate of 5%. This means the bond will pay RM50 a year in interest and you decided to purchase the bond at its par value of RM1000. Lets assume that if the interest rates in general go up. New bond being issue at RM1000 now will be paying 6% coupon. Investors will be reluctant to pay a face value of RM1000 for the previous XYZ bond. You cant change the interest rate on the bond. However you can change the price you are willing to take for the bond. In order to sell the bond, XYZ Company has to offer the bond at a lower price or a discount. The annual payment of the XYZ at RM50 (RM1000 x 5%) must equal a 6% payment. Doing a simple calculation you can find that the face value of the bond must be discounted to RM833 so that the RM50 fixed payment equals a 6% yield on the buyers investment (RM833 x 6% = RN50 ). Similarly, if the rates dropped below 5% of the original coupon rate the bond would be worth more than RM1000. Therefore it would be price at premium since it would be carrying higher interest rate than what currently offers on the market. This example is to illustrate the relationship between the interest rates and bond price at 10 years maturity. It does not represent the actual computation of a bond price. The following example will go in-depth on computing the bond price base on the present value formula. The basic present value formula for calculating a bond s price stated below: P = Market price of bond C = Coupon Payment M = Value at maturity, usually equals to face value i = Market interest rate or required yield N = number of payments Referring to the above example the increase of interest rates at i = 6%, C = RM50, M = RM1000, N = 10. The price of the bond will price approximate at RM926 lower than the face value of RM1000. The bonds yield relates the relationship of the ringgit price to its cash flow. The bond cash flows consist of coupon payments and return of principal. The principal is normally returned at the end of the bond terms known as the maturity date. The bond price is the sum of the present value of every cash flow consists by the bond. Inflation causes a big stir in bonds market. When there is a rising expectation in inflation it will cause direct impact in interest rates rise, bond yields rise therefore a fall in bond prices. The market bond price will normally be priced relative to a benchmark, usually base on a government security. If the bond is a good rated bond it has a smaller spread between its required return and the yield to maturity (YTL) benchmark. Bond Pricing Agency Malaysia (BPAM) Ringgit bond index includes bond types of zero coupon, fixed coupon, bullet and bonds with secondary notes. The indexes also consist of treasury, government related and corporate sector. It has 732 bonds with a total market capitalization of RM524 billion. The bond index is the weight of a security in the index the market value of that security on issue divided by the total value of all securities on issue. BPA Malaysia Bond Index: Source: Bond Pricing Agency Malaysia Sdn. Bhd date as at 26Oct 2010 Source: Bond Pricing Agency Malaysia Sdn. Bhd date as at 26Oct 2010 The accumulation index will increase due to the interest earned on the bonds in the index portfolio. The primary source of movement due to the rise in yields implies a fall in prices and the index. While a f all in current yields holding all other factors equal implies a rise in the index. Therefore there is a positive relationship between the prices change on the index. The shorter the maturity period of the bond the weaker the impact of differences between bonds yields and coupon rate. Bonds priced at discount will cause an increase of value over the time by holding other things being equal, while bonds priced at a premium will decrease in value. The price changes of bonds will automatically balance the index. The increase in weighting in proportion of the rise in market value would have cause by the rise in the price of a particular bond. The following table shows simple average returns with a graph of the total return index: Simple average return 1 Month 0.57% 3 Months 2.11% 6 Months 3.83% 12 Months 5.83% 18 Months 7.71% 24 Months 13.61% Source: Bond Pricing Agency Malaysia Sdn. Bhd date as at 26Oct 2010 The BPAM values bond portfolios through providing a price that is market relevant and may be done via fair valuation or taking the market price through mark-to-market. BPAM provides prices for all the bonds in the market the cope with the lack of bonds price due to not being traded. By using the last traded price can be use when the market price is reliable only in an efficient market. It also uses the fair valuation that a methodology is used to provide a rational and unbiased estimate of the potential market price. To estimate the current price it uses the arms length market transactions and relative comparison. The pricing process of BPAM is base on a daily yield adjustment exercise whereby the adjustment is done on pre and post data. Other factors that affect the price calculations include credit rating changes, micro and macro economic factors and changes in the bond terms and condition. BPAM chief executive officer Meor Amri Meor Ayob claims that the BPAM Reference Pricing Service (RPS) could reduce pric e discrepancies between primary bond issues and secondary market trades and provide an alternative to issuer for prices negotiated by investment bankers or bond arranger. This is to aimed at giving the fair price of a proposed bond issue, based on the current interest rate and economic environment. The difference between the prices should not be a different in when it is issued and when it began trading therefore whether it is at the primary or secondary level there should not be a change in price. The risk interest rate environment, the credit rating, the risk exposure and the asset should not be a discrepancy in price. The following graph shows the correlation analysis between the Bond Market Index level VS Equity Market Index level: Source: Bond Pricing Agency Malaysia Sdn. Bhd date as at 26Oct 2010 The above chart shows the performance of bond market index perform better than the FBMKLCI from the beginning year. In year 2010 it shows a better economic sign compared to t he previous year causes the increase issuance of financial related bonds. Government bonds were oversubscribed by 6 times while issuance of commercial paper by Private Corporation such Kinsteel Bhd being oversubscribed by 1.3 times. This clearly indicates that there is good liquidity and institutional interest in bonds and other fixed income instrument. Investors should consider their interest in the bond market as the effect on bond pricing provides a great opportunity for steady and safer returns. A few European countries have causes the downturn of the European region economy. Besides the quick recovery of stock market since 2007 financial crisis have increase the doubt of most investors in the stock market performance. The issuance of bond in Malaysia has been increasing from both government and corporate sectors to meet the demands of interested parties. Therefore with the active bond market that has a good pricing prospect in the future provides a safer ground for risk adverse investors. Don’t waste time! Our writers will create an original "The Growth Of The Malaysian Bond Market Finance Essay" essay for you Create order

Morality, the topic at focus, is the vertebral column of...

Morality, the topic at focus, is the vertebral column of the first aphorism of the section â€Å" Those Who â€Å"Improve† Humanity†, in Friedrich Nietzsche’s book, â€Å"Twilight of the Idols†. In an attempt too explain what it entails, the text is to be split down into five divisions. The first section extends from line 1 unto line 4, the second; lines 4-7, the third; lines 7-11, the fourth; lines 11-12 and finally the fifth proceeds up until line 17. The first section, embraces Nietzsche’s estimation of the qualities and the worth of philosophers. He opines, that â€Å"they place themselves beyond good and evil†, concerned with the principles of right and wrong behavior; that is morality. The reason for so doing, according to him, is for philosophers to†¦show more content†¦The reason thereof is, that they contain â€Å"nothing but nonsense† at all times. The closing section, introduces a different viewpoint of Nietzsche’s. In concession, he states that moral judgments are â€Å"semiotically invaluable†, which means that the way moral judgments function and the manner, in which they have come to signify what they do, is extremely useful. According to him, moral judgments, serve as a divulgence of precious and beneficial realities of â€Å"cultures and inner states†. He holds this statement as true, exclusively to those who are knowledgeable. He describes the â€Å"inner states† as those who do not have sufficient knowledge to comprehend themselves. Nietzsche further elaborates what morality is by providing an additional definition for the word. It is a â€Å"sign language†, he suggests. It is a sign for the existence of something, which would only be useful if its intrinsic nature is known. Hence, he calls it a â€Å"symptomatology†. From my division of the aphorism and the above stated explanations of each section, it could be inferred that Nietzsche is a moral relativism protagonist. His statement: â€Å"there are no moral facts at all†, reveals such classification. A probable significance of what he means by â€Å"moral† is, the concern with the principles of right and wrong behavior. Affirming my apprehension of his words, Nietzsche states his belief regarding the philosophers, as follows; â€Å"they place themselves beyond good and evil†. In anyShow MoreRelatedFriedrich Nietzche Essays1406 Words   |  6 Pages Friedrich Nietzche was born in Rocken. He spent much of his time alone, reading the Bible. Nietzsche’s father died in 1849. The young man withdrew deeper into religion. Friedrich received a scholarship to Schulpforta, an elite prepatory school with only 200 students, in October 1858. The scholarship as intended to fund Nietzche’s training for the clergy. His mother, Franziska, and his young sister, Elizabeth, are dedicated to Friedrich’s success, certain of his future. At the age of 18,NietzscheRead MoreAnalysis Of Brave Souls By Friedrich Nietzche1514 Words   |  7 PagesBrave souls seek to define life: a subject so broad it seems nearly impossible to define by any means. However, there exists a set of human beings who seek to uproot any conventional thought on the definition of life. Friedrich Nietzche is one of those daring souls who sees life as a bleak, ephemeral, meaningless, and deceptive time from birth until death as he explains masterfully in the essay â€Å"On Truth and Lie in an Extra-Moral Sense.† One of the subjects he especially focuses on is the topic ofRead MoreThus Spoke Zaratustra by Frederich Nietzche966 Words   |  4 PagesThe use of language is woven into such a dynamic doctrine in Thus Spoke Zarathustra that it speaks mountains of Nietzsche’s genius. The aspect of two voices speaking as one shows a grasp for the written word that few have accomplished. 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The people around him also show signs of madness, such as Ophelia and Claudius, but in different forms. Existentialist philosopher Friedrich Nietzche says, â€Å"There is always some madness in love. But there is also some reason in madness.† What Nietzche is saying is that when you are in love with someone or something, there is always a little bit of madness or crazy to it, but there is also some reason, some explanation, to madness. This essay willRead MoreAnalysis of Nicholas Car ´s Article: Is Google Making Us Stupid?854 Words   |  3 Pagesof a lifestyle. An example of ann innovation is the typewriter. In â€Å"1882 Friedrich Nietzche* bought a type writer† (964) which then became a form of communication through writing. Nietzche began having troubles with writing when â€Å"his eyes focused on a page had become exhausting and painful† (965) he then â€Å"feared that he would soon have to [give] it up† (965). Luckily with the new innovation of the type writer Nietzche was able to continue his writing when he managed to â€Å"master touch-typing† (965).Read MoreThe World citizenship opposes idea of nationalism Nussbaum’s main argument is about700 Words   |  3 Pagesunderstand structure of atom. Their structure looks similar. In adition, Ross does not describe entirely what is scientism. He only described it as simplification. So, in this case Ross can be also accused for scientism. Power of Intention The Nietzches’ main argument that people should fight against internal enemy.(CIHSS 2013) Internal enemy is our egoism which harms us and others, or prevents us from doing good things. (CIHSS 2013) For him internal enemy was â€Å"certainty, and mastery†. Because certaintyRead MoreFyodor Dostoevsky Crime And Punishment Analysis1214 Words   |  5 Pagesit by using ethics of Raskolnikov’s view. The second way in which Dostoevsky disapproves the Superman theory is by using a German philosopher named Fredrich Nietzche work. His work included the concepts of creating a valued Ubermensch which was a solution to the problem of death, God and nihilism. In this short passage by Fredrich Nietzche from Thus Spoke Zarathustra, he says: â€Å"I teach you the overman. Man is something that shall be overcome. What have you done to overcome him? All beings so farRead MoreThe Making Of Evil1251 Words   |  6 Pages Lauren Mlouhi Ms. Herrera English AP (7) 13 December 2015 The Making of Evil The conception of evil is an inevitable topic that has been argued for centuries and will be for more to come. But what is immorality? Friedriche Nietzche believed that turpitude is solely dependent on one’s own personal perception and is stimulated by one’s desires. In British Literature we are commonly introduced to characters that have developed from foulness as an outcome of obtaining what they want. According toRead MoreEssay Ingenious Pain1189 Words   |  5 PagesBecause of this he lacks empathy, the essence of all human qualities. As his parents die from Smallpox, he is unhindered by the traumatic event of his family. His inability to feel pain also disallows him to feel pleasure. This connects to Friedrich Nietzche theory of pain. He theorized, †But what if pleasure and pain should be so closely connected that he who wants the greatest possible amount of the one must also have the greatest possible amount of the other, that he who wants to experience the heavenly

Holden Caulfield s The Catcher Of The Rye - 1213 Words

The Catcher in the Rye by J.D. Salinger’s protagonist, Holden Caulfield suffers from depression due to the death of his younger brother, Allie. Allie’s premature passing elicits Holden’s cynical views of the world and the â€Å"phonies† around him. Holden isolates himself from those around him in order to shy away from the complexities of life. Salinger uses a hat, a museum, and a merry-go-round to illuminate Holden’s inner turmoil with people, the notion of adulthood, and growing up. Sigmund Freud’s psychoanalytic theory and the studies of Ego, Superego, and Id are used to show the significance of Holden’s behavior in The Catcher in the Rye by J.D. Salinger. The eccentric hat that Holden holds close to him symbolizes his desire differentiate himself from the common place â€Å"phonies† around him and hold on to his brother’s lost childhood. Holden’s perception of the people is one of disdain because he believes no one acts how they truly feel. Growing up terrifies Holden as it leads to the â€Å"phoniness† of adulthood. The hat, with its bizarre style, embodies Holden’s wish to hold on to the triviality and simplicity that childhood allows and offers him â€Å"quite a lot of protection† (213). However, Holden is embarrassed to wear the hat around his peers because he is uncomfortable being too different. Causing conflicting thoughts in Holden’s mind that leads to his depressed state. The super ego in this book is represented by the authorities in general, the school and society and itsShow MoreRelatedHolden Caulfield s The Catcher Of The Rye1416 Words   |  6 PagesIt is evident that the protagonist, Holden Caulfield suffers from depression due to the death of his younger brother, Allie in The Catcher in the Rye by J.D. Salinger. 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Throughout the novel Holden shows disgust for certain characters but his ability to build relationships of intimacy are most eminent. Through Allie Caulfield, Holden is able to make a more personal connection. Seeing as how he is now dead, Allie is a savior in the eyes’ of Holden when he is in the time of need. Phoebe Caulfield, Holden’s tenRead MoreAn Analysis Of Holden Caulfield s The Catcher s The Rye 1941 Words   |  8 Pagesenough; one cannot appreciate the blissful innocence of childhood until it has passed. The novel, The Catcher in the Rye, explores the complex and often incomprehensible transition to adulthood through the experiences of the protagonist, Holden Caulfield. J.D. Salinger uses Holden’s character to express the challenges teenagers must overcome in order to adapt and succeed in an adult society. Holden outlines the challenges he is experiencing through this time of development by striving to preserve childhoodRead MoreHolden Caulfield s The Catcher Of The Rye1493 Words   |  6 PagesJerome David Salinger’s novel, The Catcher in the Rye, describes Holden Caulfield’s journey to understand the complexities of growing up and his purpose. In the beginning, he is in a mental hospital somewhere near Los Angeles and is writing about this â€Å"madman stuff† to a psychoanalyst. Holden flunked out of Pencey Prep and leaves his dormitory to go on a journey around New York to find his way through post-war New York society. At the same time, he is suffering from depression and is on the vergeRead MoreHolden Caulfield s The Catcher Of The Rye824 Words   |  4 PagesThe Catcher in the Rye Symbolism Essay J.D Salinger’s Catcher in the Rye, is the story of Holden Caulfield’s loss of faith in society, and in particular adults. Salinger uses a number of symbols to demonstrate Holden’s rebellion against the phony facade of society and his desire to preserve the innocence of children, especially those he loves. Chief among them is Holden’s misinterpretation of Robert Burns’ poem â€Å"Comin thro’ the Rye†, wherein Holden mistakes the original line, â€Å"If a body meet aRead MoreHolden Caulfield s The Catcher Of The Rye1928 Words   |  8 PagesIn The Catcher in the Rye by J.D. Salinger, Holden Caulfield’s story is seemingly aimless and without any sense of direction. However, Salinger brings the novel into focus in the final chapters by introducing the idea of being the â€Å"Catcher in the Rye† from the poem by Robert Burns. Salinger chose the name â€Å"Catcher in the Rye† for the title of his novel, but why? The a nswer is that Salinger wanted to emphasize the connection between Holden, the main character, and the cryptic â€Å"Catcher.† Holden confessesRead MoreAnalysis Of Holden Caulfield s The Catcher Rye 1308 Words   |  6 Pagesscratch, while others perish into the rubble. The same can be said for Holden Caulfield, the protagonist of J.D. Salinger’s novel The Catcher in the Rye, a teenager that suffers and wallow in his misery behind the scene’s, yet lives a life of luxury and debauchery for all to witness. Psychoanalytical theory operates as a catalyst in analyzing and understanding Holden Caulfield in the narrative of The Catcher in the Rye. Holden is introduced as a defeatist, juvenile youngster that has just failed outRead MoreHolden s Influence On Holden Caulfield s The Catcher s The Rye 846 Words   |  4 Pagesforces that interact with one another greatly. For example, in The Catcher in the Rye, these two influences affect Holden Caulfield significantly. They have a large impact on how he views the world and other people. Whilst Holden â€Å"served the author’s purpose: to scrutinize the cruelties and banalities† of society, The Catcher in the Rye remains a work that may helps others understand the path to happiness (Coles). A concept Holden had observed from the start of the novel was the materialism and egotism

Goblin Market and The Lady of Shallot Essay Example For Students

Goblin Market and The Lady of Shallot Essay Christina Rosseti and Alfred Lord Tennyson, both notorious poets of the Victorian era (1830-1901) were heir to the poets Romantic era, which employed an interest in personal experience, everyday things, ordinary language, the Gothic, and the medieval as a basis for their poetry. The Victorian era carried from the Romantics distrust of religion, scepticism and an interest in the occult, and in some ways, Victorian poetry is known for its great sensibility. However the works of Tennyson and Roseti seem to employ a more religious Pre-Raphalite style of writing. Both Goblin Market and The Lady of Shalott explore love, death, temptation, Christianity, and suffering. Each taking an individual standpoint on the subjects. Let us first examine the themes of Love in the poem Goblin market. Although the main theme of the poem is temptation, the symbolism in the poem evokes images of sin, sexuality, corruption, and affection for loved ones. The main theme of love is the strong affection between Lizzie and Laura, their sisterly love helps them survive, this sisterly love is known as Agape (Dictionary Definition: Love as revealed in Jesus, seen as spiritual and selfless and a model for humanity. Love that is spiritual, not sexual, in its nature). From this definition we can draw the fact that their sisterly affection and selflessness helps them to help each other out with compassion: For there is no friend like a sister, In calm or stormy weather, To cheer one on the tedious way, To fetch one if one goes astray, To lift one if one totters down, To strengthen whilst one stands In this poem the temptations of the Goblin men are fought off by the love of the two sisters. For your sake I have braved the glen, And had to do with goblin merchant men , this shows the selflessness of Lizzies love, that she was prepared to sacrifice herself for the sake of her own sister. Her love not only involves sacrifice but also protection, she seems to be wiser and more intelligent and sensible than Laura, and therefore takes the role of her protector and guardian when she thrusts a dimple finger in each ear to shield Laura from the harmful temptation of Goblins. In the end Lizzies love prevails and she lifts her sister out of the murky depths of addiction. Some compare Lizzie to a Christ-like figure: since she is almost like a Martyr, resisting the temptation of poison to save her sister and redirecting her sister from the evils of Sensual love. I hear the fruit-call, but I dare not look: You should not loiter longer at this brook: come with me home. Rosseti, when describing the vicious and desperate struggle between Lizzie and the Goblin Men uses very aggressive alliteration, the whole passage is filled with actions synonymous with struggling and jostling, which alliterate to depict a very vivid portrayal of a tough and uncomfortable physical struggle: They trod and hustled her, Elbowed and jostled her, Clawed with their nails, Barking, mewing, hissing, mocking, Tore her gown and soiled her stocking, Twitched her hair out by the roots, Stamped upon her tender feet However despite this vicious physical assault, as Rosseti says in the poem herself, One may lead a horse to water ,Twenty cannot make him drink. And in the end Lizzie does NOT drink, she rises up and stands resilient in the face of abuse and evil, showing that good will prevail, and that in the face of adversity and attack, amidst chaos and temptation the actions of the just and the love and devotion and passionate desire for the emancipation of her dear sister lift her out of the murky sewers of defeat, making her the loving, selfless, death defying heroine in the poem. Edward VI - Young, Gifted and King EssayShe made three paces thro the room, She saw the water-lily bloom, She saw the helmet and the plume, She lookd down to Camelot The mirror crackd from side to side This shows that after being tempted by Lancelot she can no longer bear the shackles of sexual and sensual oppression; she breaks the mirror and is drawn into the world she has longed for. She is so deprived of love that even a funeral with plumes and lights was a happy, lovely thing for her. Death is this poem, unlike Goblin market, is an end, it is death in its realest form. She is not resurrected or lifted, she simply dies, and she is solitary. Her life almost seems like a death itself, grey walls grey towers. And the pathetic fallacy in the poem also is one of death and decay: willows whiten, aspens quiver, depicting a season of decay. The Lady of Shallot is curious of the outside world, of Camelot, like Laura is of the goblin fruit. They both decide to take a leap into the unknown, and unfortunately, only one of them can live. The Lady of Shallots curiosity leads to her falling into her curse, going to Camelot meant death for her. But also death in this poem is a release, a release from her entrapment and encasement. a gleaming shape she floated by, dead pale. Her dead body, some say, depicts the death of beautiful and wonderful classical art and classical architecture into the deeply dismal and boring angular industrialised style. When once she was beautiful, she then died and her face was pale and robbed of its previous glamour. A truly tragic and symbolic end to a compellingly gripping tale of love and the release from a life of shadows. Both the poems have tragedy, love, passion, hate, aggression. Both poems are intense in their vivid imageries and explore deep and delightful boundaries. In Goblin Market the girls are isolated from the harsh realties of the Goblin Men, but when they face them, they are united and they conquer the outside evils which have infiltrated them, and with love they reign supreme. However, the real world kills the Lady Of Shallot, for her love is unrequited, and in the search for love and passion she seals her own fate, and is bound to death, alone and without emancipation.